Mumbai, Feb 14 (IANS): Reliance Capital Ltd on Wednesday said it closed the third quarter ended Dec 31, 2018 with a consolidated net profit of Rs 213 crore.

The Board of Directors of Reliance Capital at their meeting approved the proposal of raising up to Rs 1,750 crore by way of issuing secured redeemable non-convertible debentures with a face value of Rs 1,000 each.

In a statement, the company said it had posted a net profit of Rs 213 crore for the quarter ended December 31, 2018 -- up from Rs 6 crore posted during the corresponding quarter of 2017.

During the quarter under review, the company had earned a total income of Rs.5,016 crore down from Rs 5,386 crore earned during the third quarter ended December 31, 2017.

As on December 31, 2018, the total assets of the company stood at Rs 89,400 crore - an increase of seven per cent.

The company said Reliance Nippon Life Assent Management (RNAM) closed the quarter with a profit after tax (PAT) of Rs 110 crore.

Reliance Commercial Finance posted a profit before tax (PBT) of Rs.69 crore while the PBT for Reliance Home Finance for the period under review was at Rs 88 crore.

Non-life insurance company Reliance General Insurance PBT stood at Rs 34 crore while Reliance Nippon Life Insurance made a marginal profit for the period under review, the statement said.

Reliance Securities, the broking and distribution arm of Reliance Capital, posted a total income of Rs 84 crore and a net profit of Rs 7 crore.